Chapter1LectureNotes

Chapter1LectureNotes - Historical Performance of the US...

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Unformatted text preview: Historical Performance of the US Economy The Relevance of Macroeconomics How Economists Think Intermediate Macroeconomics, 321 Chapter 1 The Science of Macroeconomics Instructor Geoffrey Williams Rutgers University May 26, 2009 Instructor Geoffrey Williams Chapter 1 Historical Performance of the US Economy The Relevance of Macroeconomics How Economists Think Outline 1 Historical Performance of the US Economy 2 The Relevance of Macroeconomics 3 How Economists Think Models Exogenous vs Endogenous Flexible vs Sticky prices Instructor Geoffrey Williams Chapter 1 Historical Performance of the US Economy The Relevance of Macroeconomics How Economists Think Macroeconomics is....? The study of... (A) activities of individual units of the economy (B) decisionmaking by households and firms. (C) the economy as a whole. (D) the interaction of firms and households in the marketplace Instructor Geoffrey Williams Chapter 1 Historical Performance of the US Economy The Relevance of Macroeconomics How Economists Think Macroeconomics is....? The study of... (A) activities of individual units of the economy (B) decisionmaking by households and firms. (C) the economy as a whole. (D) the interaction of firms and households in the marketplace Answer: C, the rest would be microeconomic questions Instructor Geoffrey Williams Chapter 1 Historical Performance of the US Economy The Relevance of Macroeconomics How Economists Think One more question All of the following are types of macroeconomic data...
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Chapter1LectureNotes - Historical Performance of the US...

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